Vietnamese coffee export prices to UK surge

Vietnam is the second-largest supplier of coffee to the United Kingdom (UK). The average export price of Vietnamese coffee to the UK in the first half of 2024 reached 3,941 USD per tonne, an increase of 68.4% compared to the same period last year.

According to data from the General Department of Customs, Vietnam’s coffee exports to the UK in June 2024 totalled 2,180 tonnes, valued at 9.1 million USD, down 44.6% in volume and 17.5% in value compared to June 2023. The significant drop in coffee volume has led to a sharp increase in prices.

The UK imports coffee from 94 countries and territories worldwide. The primary coffee suppliers to the UK market include Brazil, Vietnam, Germany, Italy, and Colombia.

According to statistics from the International Trade Centre (ITC), in the first five months of 2024, the UK imported 94,210 tonnes of coffee from the world, worth 553 million USD, an increase of 8.1% in volume and 2.6% in value compared to the same period last year.

The average import price of coffee into the UK from the world reached 5,870 USD per tonne, down 5.2% compared to the same period last year. Notably, the average import price of coffee from Brazil, Germany, and Colombia decreased; however, the average import price from Vietnam surged by 45.4% to 3,378 USD per tonne.

Brazil is the largest coffee supplier to the UK in the first five months of 2024, with a volume of approximately 37,470 tonnes, valued at 128.81 million USD, an increase of 93.8% in volume and 45.1% in value.

Vietnam followed as the second-largest coffee supplier to the UK in the first five months of 2024, with a volume of 15,330 tonnes, valued at 51.79 million USD, a decrease of 22.8% in volume but an increase of 12.2% in value compared to the same period last year.

Vietnam’s share of total UK coffee imports from the world decreased from 22.8% in the first five months of 2023 to 16.27% in the first five months of 2024. During the first five months of 2024, the UK increased its coffee imports from Germany and Italy but reduced imports from Colombia.

Source: Vietnamese coffee export prices to UK surge | Nhan Dan Online